THE OFFER

Question 1

ADVERTISEMENT

Answer 1

Generally not an offer to sell – it is a request for offers to buy.
An exception is the Carbolic Smoke Ball case in which the Court held that the
advertisement has the legal effect of an offer to pay a reward. Very unusual

Question 2

PRICE QUOTE

Answer 2

Treated like an advertisement for these purposes, so a price quote
is generally not an offer to sell – it is a request for offers to
buy

Question 3

LETTER OF INTENT

Answer 3

Not an offer. It merely states what the parties are considering,
not what they actually agreed to except if the language indicates that the parties
intended to be bound.

Question 4

THE TERMS OF AN OFFER MUST…………

Answer 4

THE TERMS OF AN OFFER MUST BE DEFINITE TO BE A VALID OFFER.
If the terms are vague, then the Court does not have enough information to enforce it
and there is NO Contract